News for hackers. Stuff that matters.
Re:Maybe Treating Housing as an Investment Was a Colossal Mi... by narrator on Monday March 06, 2023 @03:07PM (#35046860)
I may get flagged for saying this, but I got karma to burn and it is so glaringly obvious living in the Bay Area, especially the Peninsula.

The reason that I think the Bay Area and other tech hubs are so expensive is that asians with PHDs who fly in for their $500k/year machine learning tech job want to live around other asians. They do not want to live in rural Utah where you can get a nice house for $200k and remote work, but there are no asians around and there's probably more discrimination.

The growth in Asian populations in San Francisco[2] and other formerly "liberal" counties[1] is probably also a huge reason for the increasing friction in the bay area between Asians and other ethnic minorities. It's probably also a reason for the political backlash against leftist politics in San Francisco where the soft on crime prosecutor got thrown out and the school board got thrown out because they wanted to get rid of AP programs and the elite status of Lowell high school because not enough non-asian minorities were getting in there. In 10 years San Francisco will probably have a tough on crime mayor and completely obliterated the homeless problem if this trend keeps up. Maybe not quite yet, but there is a great dip buying opportunity in San Francisco commercial real estate when this trend finally materializes.

[1]https://usafacts.org/data/topics/people-society/population-a...

[2]https://usafacts.org/data/topics/people-society/population-a...

Re:Maybe Treating Housing as an Investment Was a Colossal Mi... by inconceivable on Monday March 06, 2023 @03:24PM (#35047065)
i'd say you're describing something that's pretty obvious on its face.

what's not obvious is this dynamic has been going on for over a century and a half in california and the greater american west in general. the white native reaction was at first the chinese exclusion act, then japanese internment / asset seizure.

the difference is this time the legacy white property owners are cashing out (cashing in?) in a huge way in both sales and rent as asians move in, so you can expect it to continue.

it's white flight, but financially inverted. in other words.... asian gentrification.

Re:Maybe Treating Housing as an Investment Was a Colossal Mi... by bumby on Monday March 06, 2023 @07:49PM (#35050032)
It arguably dates back further, with Hispanics rather than Asians
Re:Maybe Treating Housing as an Investment Was a Colossal Mi... by cronix on Monday March 06, 2023 @04:48PM (#35048137)
> The reason that I think the Bay Area and other tech hubs are so expensive is that asians with PHDs who fly in for their $500k/year machine learning tech job want to live around other asians. They do not want to live in rural Utah where you can get a nice house for $200k and remote work, but there are no asians around and there's probably more discrimination.

You can probably safely extrapolate that to all races who move to a foreign country. They tend to want to live amongst themselves. Not necessarily for racist reasons, but because it's a bit more familiar and you have an easier time communicating with others speaking your dialect, as well as having similar customs and social norms.

Re:Maybe Treating Housing as an Investment Was a Colossal Mi... by int_19h on Monday March 06, 2023 @09:37PM (#35050842)
It really depends. In some countries, a desire to escape the "customs and social norms", or sometimes the current political trends, is one of the popular motivations to immigrate. I know quite a few Russian immigrants in US who consciously avoid areas with large proportion of compatriots and community events etc for this exact reason. More so since the war, of course, but it was already a thing when I moved here 12 years ago.
Re:Maybe Treating Housing as an Investment Was a Colossal Mi... by hysan on Tuesday March 07, 2023 @12:59AM (#35052092)
Another reason is the belief that there is a level of safety that comes with living with others in the same culture/religion/etc. not saying that it works out in practice, but it is something that holds some sway.
Re:Maybe Treating Housing as an Investment Was a Colossal Mi... by 8note on Tuesday March 07, 2023 @01:50AM (#35052375)
> Not necessarily for racist reasons, but because it's a bit more familiar and you have [...] similar customs and social norms.

So, racist reasons?

Re:Maybe Treating Housing as an Investment Was a Colossal Mi... by myth17 on Monday March 06, 2023 @06:06PM (#35049110)
No we don't want to live with other asians. We want to live near our family (brothers / sisters / cousins) who are also in Tech. We will have no family in rural Utah.
Re:Maybe Treating Housing as an Investment Was a Colossal Mi... by Avlin67 on Monday March 06, 2023 @06:42PM (#35049504)
same issue with my chinese wife alltough she doesnt has a PHD… We could work in lovely amazing places in france but we have to stay in the capital. yet with time it changes…

actually they (the asian you say) would face less discrimination but they just dont know it so they could be also racist by themselve (english is not my best, just trying to explain, of course they are not racist)

I see this in my street, 2 kebabs, one filled with black arabs with hallal meat, the other one being « american organic kebbab » and filled only by 35+ white people. it saddens me because ignorant me was thinking people will mix together at lunch…

Re:Maybe Treating Housing as an Investment Was a Colossal Mi... by diveandfight on Monday March 06, 2023 @08:10PM (#35050192)
> actually they (the asian you say) would face less discrimination but they just dont know it so they could be also racist by themselve (english is not my best, just trying to explain, of course they are not racist)

Thank you for speaking on our behalf and enlightening us on where we would/would not experience more/less racism.

Re:Maybe Treating Housing as an Investment Was a Colossal Mi... by alliao on Monday March 06, 2023 @06:54PM (#35049596)
I wonder how much of it being pumped up by oligarchs parking their asset; vancouver style.
Re:Maybe Treating Housing as an Investment Was a Colossal Mi... by diveandfight on Monday March 06, 2023 @07:54PM (#35050061)
so... Asians are at fault for the rising cost living?